Market still in the grip of US tapering worries
THE better the United States economy appears to get, the worse it is for the local stock market. This is the simple equation confronting Singapore equities investors who this week watched the Straits Times Index fall four out of five days because the release of strong US economic data has led to worries that the US Federal Reserve might cut back its money printing sooner rather than later.
Of course the logic of this argument may be questioned - if the US really is recovering, then it should take the global economy with it, in which case export-oriented economies like Singapore's should benefit. And if so, there's no good reason why the STI should have fallen as it has - yesterday's short-covering 6.98- point rise helping to limit the weekly loss t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
GM CEO Barra compensation fell 4% in 2023 to US$27.8 million
Prada’s sales up 16% in first quarter as Miu Miu shines
Boeing reports first revenue drop in 7 quarters as deliveries decline
OUE Reit Q1 NPI rises 6.9% to S$60.5 million
OKP unit gets S$92.9 million LTA contract
Greenback recovers from PMI slump, yen closes in on 155 per dollar